Rochelle A.

Aquino
BS ENTREPRENEURSHIP 3A

As an entrepreneur student this kind of lesson really help me to

become aware how does franchising works.
Learning about franchising as a student can provide valuable insights
and prepare you for potential future opportunities.
1. Education and Research: Take advantage of your time as a
student to educate yourself about franchising. Research different
franchise models, industries, and success stories. Learn about the
benefits and challenges of franchising and understand the key factors
that contribute to a successful franchise.
2. Networking: Build relationships with professionals in the
franchising industry. Attend industry events, join relevant associations
or clubs, and connect with franchise owners and experts. Networking
can provide valuable insights, mentorship opportunities, and potential
connections for future endeavors.
3. Internships and Part-Time Jobs: Consider seeking internships
or part-time jobs with franchise businesses. This hands-on experience
can give you a firsthand understanding of how franchising works, the
day-to-day operations, and the challenges and rewards involved. It can
also help you build a network of industry contacts.
4. Business and Entrepreneurship Courses: Take courses
related to business and entrepreneurship to gain a solid foundation of
knowledge. Courses in marketing, finance, management, and
operations can provide valuable insights into the various aspects of
running a franchise business.
5. Franchise Case Studies: Study real-life franchise case
studies to understand the strategies, successes, and failures of
different franchise businesses. Analyze how they have adapted to
market changes, implemented growth strategies, and addressed
challenges. This can help you develop critical thinking and problem-
solving skills.
6. Franchise Business Plan: Consider developing a franchise
business plan as a student project. This exercise will help you
understand the key components of a business plan, including market
analysis, financial projections, and marketing strategies. It can also
serve as a blueprint for your future franchise endeavors.
7. Seek Mentorship: Reach out to professionals in the
franchising industry, such as franchise consultants, successful
franchisees, or franchisors, and seek mentorship. Their guidance and
insights can provide valuable advice and help you navigate the
complexities of franchising.
8. Continual Learning: Keep up with industry trends, news, and
developments in franchising. Subscribe to industry publications, follow
franchising blogs or podcasts, and attend seminars or webinars.
Continual learning will help you stay informed and adapt to the
evolving landscape of franchising.
9. Financial Literacy: Develop a strong understanding of
financial concepts and practices. Learn about budgeting, financial
statements, cash flow management, and funding options. This
knowledge will be beneficial when evaluating franchise opportunities
and managing the financial aspects of a franchise business.
10. Personal Assessment: Reflect on your own strengths,
interests, and goals to determine if franchising aligns with your
aspirations. Consider your leadership skills, ability to follow established
systems, and willingness to take on the responsibilities of owning a
business. Assess if franchising is the right path for you.

In franchising, the term "franchise end of bargain" refers to the

fulfillment of obligations and expectations between the franchisor and
the franchisee throughout the duration of the franchise agreement. It
encompasses various aspects of the franchisor-franchisee relationship,
including the rights, responsibilities, and benefits of each party.

The Nuances of franchisor or Franchisee Relationship

The relationship between a franchisor and franchisee can vary from

one franchise system to another. While there are general principles
that guide this relationship, it is important to recognize the nuances
that exist.

Franchisor as a partner
When considering the franchisor-franchisee relationship, it is common
to view the franchisor as a partner. While the relationship between a
franchisor and franchisee is not a traditional partnership in the legal
sense, there are similarities in terms of collaboration and mutual
goals.
For some perspective:

Communication and Collaboration: The frequency and effectiveness of

communication between the franchisor and franchisee can differ. Open
and transparent communication is crucial for a successful franchisor-
franchisee relationship. Some franchisors may have regular meetings,
conferences, or online platforms to facilitate communication and
collaboration, while others may have limited interaction.

Franchisor as a parent

The analogy of a franchisor as a parent is sometimes used to describe

the relationship between a franchisor and franchisee. While not a
literal parent-child relationship, this analogy highlights certain aspects
of the dynamic between the two parties.

It's important to note that while the franchisor may act as a guide and
provide support, the franchisee operates as an independent business
owner. The franchisee has responsibilities and obligations to uphold
within the franchise system.
Overall, the analogy of a franchisor as a parent highlights the
supportive and guiding role that franchisors play in helping franchisees
succeed. However, it's essential to recognize that the franchisor-
franchisee relationship is a contractual and business-based association.

For some perspective:

Responsibility and Accountability: The franchisor holds a level of

responsibility for the success and well-being of the franchisees, much
like a parent cares for their children. They provide resources, tools, and
ongoing support to help franchisees thrive.

Franchisor as Dictator

While the term "franchisor as dictator" may be used metaphorically in

some discussions, it is important to note that the franchisor-franchisee
relationship is typically based on a contractual agreement and mutual
cooperation. The relationship is not intended to resemble a
dictatorship. Franchising is built upon collaboration, support, and
shared goals.
For some perspective:

Leadership Style: Some discussions highlight the importance of

strong leadership within a franchise system. It is argued that a
franchisor needs to assert authority and provide clear guidance to
maintain consistency and brand integrity. This leadership style may be
referred to as a "benevolent dictatorship," where the franchisor
exercises control for the benefit of the franchise system's coordination
and success.

Franchise Wannabes

Franchise wannabes, or aspiring franchisees, are individuals who are

interested in becoming part of a franchise system. Here is a summary
of key points related to franchise wannabes:
1. Entrepreneurial Spirit: Franchise wannabes often possess an
entrepreneurial spirit and a desire to start their own business. They see
franchising as an opportunity to leverage an established brand and
proven business model.
2. Research and Due Diligence: Franchise wannabes conduct
extensive research and due diligence to find the right franchise
opportunity. They analyze various factors such as the franchisor's track
record, franchise fees, support provided, market potential, and the fit
between their skills and the franchise concept.
3. Financial Considerations: Franchise wannabes evaluate the
financial aspects of franchising, including the initial investment
required, ongoing fees, and potential profitability. They may seek
financing options or assess their own financial resources to determine
feasibility.
4. Training and Support: Franchise wannabes value the
training and support provided by franchisors. They look for
comprehensive training programs, operational guidance, marketing
support, and ongoing assistance to help them succeed in their
franchise venture.